(Reuters) – Governments around the world pledged counter measures on the U.S. after President Donald Trump unveiled on Wednesday a new baseline 10% tariff on goods from all countries plus reciprocal tariffs on those that his administration says have high barriers to U.S. imports.
Here is what some governments said about what they would – and would not – do in response.
CHINA
China’s commerce ministry said Beijing “firmly opposes” the reciprocal tariffs and “will take countermeasures to safeguard its own rights and interests,” after Trump imposed a 34% reciprocal tariff on the country.
JAPAN
Japanese Trade Minister Yoji Muto called the reciprocal tariffs “extremely regrettable” and said Tokyo would urge the U.S. to exempt Japan from tariff measures. Tokyo faces a 24% reciprocal tariff.
SOUTH KOREA
Acting President Han Duck-soo ordered emergency support measures for affected businesses, including automobiles, the industry ministry said, after Trump’s tariff announcement included a 25% rate on South Korea.
CANADA
Prime Minister Mark Carney said Canada was “going to fight these tariffs with countermeasures” and would “act with purpose and with force.”
Goods from Canada and Mexico are not currently subject to reciprocal tariffs because Trump’s prior 25% fentanyl-related duties remain in place on their goods, along with 10% for Canadian energy and potash. A tariff exemption for goods compliant with the U.S.-Mexico-Canada Agreement on trade will continue indefinitely.
MEXICO
President Claudia Sheinbaum said on Wednesday that Mexico would not pursue a “tit-for-tat on tariffs” but would rather announce a “comprehensive program” on Thursday.
AUSTRALIA
Prime Minister Anthony Albanese said Australia would seek to negotiate with the U.S. to remove the tariffs without resorting to a dispute resolution mechanism in the two countries’ Free Trade Agreement.
He said his government would not impose reciprocal tariffs as this would increase prices for Australian households.
“We will not join a race to the bottom that leads to higher prices and slower growth,” Albanese said.
EUROPEAN UNION
Bernd Lange, chairman of the European Parliament’s international trade committee, said the EU would response “through legal, legitimate, proportionate and decisive measures.”
“I hope that our arguments and the firmness of our response will provide sufficient incentives to bring the US to the negotiating table,” Lange said.
Ireland’s trade minister, Simon Harris, said the EU “will have to respond in a proportionate manner which protects our citizens, our workers and our businesses,” while Portugal’s Economy Minister Pedros Reis called for a “firm, but also very intelligent” response.
BRAZIL
The government of Latin America’s largest economy Brazil, which Trump slapped with a 10% tariff, said it was “evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the World Trade Organization.”
Earlier in the day, Brazil’s Congress approved a bill that establishes a legal framework for Brazil to respond to potential unilateral trade measures targeting its goods and services, including countermeasures such as tariffs.
(Reporting by Reuters Newsroom; Writing by Brendan O’Boyle; Editing by Sonali Paul)
Comments